Affiliated Managers Group (NYSE:AMG) Stock Rating Upgraded by Wall Street Zen

Affiliated Managers Group (NYSE:AMG) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other equities research analysts have also recently commented on the company. Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Monday, August 4th. The Goldman Sachs Group upgraded Affiliated Managers Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $197.00 to $218.00 in a research report on Friday, June 27th. Barrington Research restated an “outperform” rating and set a $240.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, September 23rd. Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Finally, TD Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and raised their target price for the company from $214.00 to $255.00 in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $250.40.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG opened at $238.83 on Friday. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.63 and a beta of 1.19. The stock has a 50 day moving average price of $224.00 and a 200 day moving average price of $193.14. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $250.15.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping analysts’ consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The company had revenue of $493.20 million during the quarter, compared to analyst estimates of $506.46 million. During the same quarter in the prior year, the business earned $4.67 earnings per share. Affiliated Managers Group’s revenue was down 1.4% on a year-over-year basis. Analysts forecast that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Insider Buying and Selling at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Several large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after purchasing an additional 107 shares during the last quarter. Millstone Evans Group LLC increased its holdings in shares of Affiliated Managers Group by 154.5% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 102 shares during the period. Versant Capital Management Inc increased its holdings in shares of Affiliated Managers Group by 70.8% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 75 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Affiliated Managers Group in the first quarter valued at approximately $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Affiliated Managers Group by 80.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.